Charity number: SCO14424 THE ASSOCIATION FOR THE RELIEF OF INFIRMITY IN THE WEST OF SCOTLAND UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
THE ASSOCIATION FOR THE RELIEF OF INFIRMITY IN THE WEST OF SCOTLAND CONTENTS Page Reference and adminlslratlve details of the charityi its Trustees and advlsers Trustees, report Ind8p8ndent examlnerfs report Statement of flnanclal actlvltlgs Balance sheet Notes to the financial statements 9-18
THE ASSOCIATION FOR THE RELIEF OF INFIRMITY IN ThE WEST OF SCOTLAND REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDEO 31 DECEM8ER 2024 Trusteeg Charity reglstered number SC014424 Prfnclpal offlcfr Wright Johnston & Mackenzio LLP 319 St Vincent Stre8t Glasgow G2 5RZ Secretary Wright Johnston & MacK¢nzie LLP Honoyary présldent Tha Right Honorable The Lord Provo81 of Glasgow Accountants Anderson Anderson & Brown Audit LLP 133 Finnieston Street Glasgow G3 8H8 Sollcltors Wright Johnston & MacKenzie 319 Sl Vinnt Street Glasgow G2 5RZ Ex Offlclo Trustees Page 1
THE ASSOCIATION FOR THE RELIEF OF INFIRMITY IN THE WEST OF SCOTLAND TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Th8 Trustees pres&nt their annu81 r8POrt together with the financial statements of the Association for the Relief of Infirmity in the Wesl of Scotland for the year 1 January 2024 to 31 De¢&mber 2024. The TrLJStees confirm that th8 Annual r8port and financial slalements of the ehaiily's comply with the current slalulory requirements, the requirements of the charity's governing document and the provisions of the Slalernenl of Recommended Practice ISORPI 8ppli¢able lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in th6 UK and Republic of Ireland IFRS1021 leffeclive 1 January 20191. Objectlves and activities a. Pollcles and oblectlvos Oblectives and alms The objoclives of the Association are to help those suffering in poverty from contracted incurable diseases by awarding one-off grants andlor benefits. The Association fulfils its obje¢tlves by paying oneryoff grant8 or by periodic payments to b8neficiaries falling under th8 obj8divas. The income of the Association is derived from investments and additional income. The portfolio is managed on a lolal return policy basis and uses a combination of dividend incorne and capital as its income lo enable il lo fulfill ils objectives. b. Grant-maklng pollcles Applications far grants are variously made through the social work departments of local authorities or other madical or social work referral agencies or from any other recognised and reputable sources. Grants are al the discretion of the trustees. Achlevements and performance a. Maln achl&vem8nt8 of th8 charlty Charltable actlvltl85 During the year under review, the Iruslees ensured that thg Association continued lo fulflll ils charitable objectives by supporting eligible beneficiaries. As part ol the planned cessation of the Association. the trustees have been actively distributing the remaining funds lo appropriate charitable cau56s in line with ils objective8. The Trustees were advised that a fom)er Chair, who had passed away aged 99 in November 2023, had left a bequest lo the Associalioii. Ilie liuslev¥ arè most grateful for this donation of £25,000. During the year the Tru8t88s con8ider8d the fLrtur8 of the Charity and ¢onclud8d that il would bè beller if the lunds were transferred into another larger charity ag a special fund Ih8reby retaining ils name and purposes. After ¢aroful consideration. The Merchants House of Glasgtsw was salecled, and an appropriate agreement drawn up and approved by the Iruslees of both charities. Fonmal approval was then requestèd and obtained from OSCR. All ol the funds of the Charity hava been passed lo The Merchants House of Glasgow and they have tsken on the payment and future management of the beneficiaries. The lfftnsler should ensure the ARI name and ils charitable purposes are secured for the future and that wbth reduced costs increased funds will be¢ome available for supporting beneficiaries. The final funds held by the Association will be passed to The Merchants House of Glasgow following the approval of these accounts and the payment of final invoices. Page 2
THE ASSOCIATION FOR THE RELIEF OF INFIRMITY IN THE WEST OF SCOTLAND TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 Achievements and performance l¢ontinued b. Financial position In the y8ar ended 31 December 2024 the income of the Association from all sources was £218,283 12023.. £189,010) as detailed in the attached accounts. The nel oulgoings before clher recognised gains and losses are £5,e88,77812023.. £83,095). The decrease in funds of £5,654,789 in 2024. 12023.. £60.764 nel incre88el, is due lo the inveslrnenl portfolio being Iransfered lo The Merchants House of Glasgow as the chorily i¥ winding up (see charitable aclivilie8 above). The lot81 funds al 31 D8c8mb8r 2024 w@re £87,812. Flnanclal revlew a. Going concern The Trustees have agreed lo cease the operations of The Assoclalion for the Relief of the Infirmity in the wesl of Scotland, upon donation of the investment portfolio in December 2024, in liné with the OSCR consent given. The Trustees have prepafftd the financial slalmeenls on the basis that the charity is no longer a going concern. No material adjustments arise as a result of ceasing lo apply the going concern basis. b. Reserves pollcy All funds have been donated lo various charities, with only the remaining funds al year-end consisting of the charity's bank balance and oulslanding creditor balances. This aligns with the expectation of the charity ceasing operations. Investment Pollcy The trustees. investment policy is lo maximise the income whilst preSeing the real value of the funds invested 80 that the chari18ble objectives of maintaining and irnproving the benefits payable lo their ben&ficiaries can be achieved, whilst safeguarding the capital of the Association, The Association's investment managers review the investment portfolio regularly each year lo ensure the approach adopted cornplies with the Iruslees, investment 81ralegy. The Finance Committee meet periodically and invite th8 inv8slmenl managers lo attend such meetings and report on the performance of the inveslrnenls. The investment managors have been appointed on a discretionary management basis with the trustees reviewing investment manager's decisions al subsequent meetings. The trustees are satisfied with the porformanc8 of the portfolio. The Trusteès havè adopted a lolal return investment policy lo secure the efficient use of the charills 8ssels on a long term basis allowing the objeclivas of the charity to be mel on a year lo year basis. In addition, as a maller of good practice from lime lo lime, the Trustees intend lo issuè lender invitations in respect of the portfolio investment management services. Page 3
THE ASSOCIATION FOR THE RELIEF OF INFIRMITY IN THE WEST OF SCOTLAND TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 310ECEMBER 2024 Stru¢tureTr governance and management a. Constltutlon The A880cialion was formèd by the Trust Dispo811ion and Settlement of the late Sir John Maxwell of Pollok, Baronet, d?led 23rd July 1863 and two Codicils Iherelo all recorded in the Books of Council and Session on 12th June 1865. The Association was constiluled under a Deed of Declaration of Trust Purposes by the Trustees of The Association for the Relief of Incurables in Glasgow and tho West of Scotland dated 30th March, 31st March and 7th April and registered in the Books of Council and Session on 18th April. all dales in the year 1876, and th8 Todd Bequest Will. The Association adopted 8 new Conslilullon dated 28th September 2016 which was furth8r amond@d in August 2021 following OSCR'S Guidance lo update the con81ilulion to allow virtual maalings lo be held. Following OSCR'S consent lo an Application for Approval of a Reslricled Fund Reorganlsalion in November 2022, tha Todd Bequest Will was amend6d lo include a slalemenl Ihal the capital as well as the income could be applied for the general purposes of the Association and lo convert income lo capiial and vice versa. As a result a Special Resolution lo adopt the wording was passed by the Trustees on 2nd December 2022. The Association is an unincorporated charity registered in Scotland, b. Methods of appolntment or electlon of Trnstè68 New trustees are appointed by The Association following nomination. The Iruslees bring a range of skills including medical and social work backgrounds. The Iruslees enlrusl the day to day adminislralion lo the Secretary, Messrs Wright, Johnston & Mackenzie LLP Solicitors. The Association operates from the Secretary's offices al 319 Sl Vincent Street, G188gow. c, Koy management The Iruslees are the charills key management. These personnel are in charge of directing, controlling and operating the charity. d. Flnan¢lal rlsk managèment Tha Iruslees have a duly lo identify and review the risks lo which the charity is exposed and lo ensure appropriate controls are in place lo provide rèason8ble assurance ag8in8t fraud and error. The trustees have adopted an organisalional risk assessment which is reviewed periodically. Page 4
THE ASSOCIATION FOR THE RELIEF OF INFIRMITY IN THE WEST OF SCOTLAND TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 Statement of Trustees. responsibilitie¥ The Trustees are responsible for preparing the Trustees, report and the financial slalemenls in accordance with applicab18 law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practicel. The law 8pplic8ble lo charities in Scollané requires the Trustees lo prepare financial slalements for each financial year which give a true and fair view of the slate ol affairs of the charity and of its in¢oming resources and application of resources. including ils income and expenditure, for that period. In preparing these financial slalemenls, the Trustees are required to.. select surtable accounting policies and then apply them Gonsislenlty.. observe the methods and principles of the Charities SORP IFRS 102}', make judgements and a¢¢ounling estimates that are reasonable and prudent., stsle whether applicable UK Accounting Standards IFRS 1021 have been followed, sublecl to any material departures disclosed and 8xplain8d in th8 financial slat8m@nls' prepare the financial slalements on the going concern basis unless It 18 inappropriate lo prtssume that the charity will continue in business. The Tru8leè8 ar@ r8sponsibl8 for keeping adequate accounting records that are sufflclenl lo show and explain the chariltys transactions and disclos8 with reasonable accuracy al any lime the financial position of the charity and enable them to ensure that the financial slalemenls comply with the Charities and Trustee Investment Iscollandl Act 2005, the Charities Accounts Iscollandl Regulations 2006 las amended) and the provisions of the Trust doed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and delectson of fraud and other irregularities. Approved by Order of the membeTr of the board of Trustees and signed on th8ir behalf by.. Dale.. Page 5
THE ASSOCIATION FOR THE RELIEF OF INFIRMITY IN THE WEST OF SCOTLAND INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEM8ER 2024 Independent examlnèr's rèport to tha Trustees of The Assoclatlon for the Rellef of Inflrmlty In the West of Scotland I report on the accounts of the charity for the year ended 31 December 2024 whi¢h gre sel out on pages 7 10 18. Ra$etIv6 responslbllltles of Trustees and examlner The Gharily's Iruslees sre responsibilè for the prep8ralMin of the financial slalemènls in accordance w¢th the terms of the Charities and Trustee Investment (Scollandl Act 2005 I'lhe Acl'l and the Charities Aeeounts (Scollandl Regulation 2006 I'lhe Accounts Regulalions'l. The trustees consider that the audrt requirement of regulation 1011 Ila) lo (cl of the Accounts Regulations does not apply. 11 is my responsibility lo examine the financial slaternenls as roquired under $8clion 441111¢) of the Act and lo 818le whether p8rticular matters have como to my attention. Basls of Snd8pendent examlner'y Statement My examination was carned out in accordance with regulation 11 of the Accounts Regulations. An examination includes a revw of the accounting re¢ords kept by the Charity and a comparison of the financial slalements presented with Ihose rewrds. 11 also includes consideration of any unusual items or disclosures in the financial 61alemenls. and seekit)g explanations from you as trustees ¢onceming any such matters. The procedures undertaken do not provide all the evidence th81 would be required in an audit, and consequently I do not express an audit opinion on the view giv8n by tha accounts. Indep8ndent examlnerfs statem&nt In the course of my examination, no matter has come to my attenllon., which gives me reasonable cause lo believe thèl in any material re&pécl thè requiremenl8'. to keep accounting records in accordanc6 with section 4411 Ila) of the Act and regulation 4 of the Accounts Regulations., and lo prepara financial slalements which accord with the accounting records, Accounting and Reporting by Ch8rilies preparing their accounts in accordance with the Financial Reporting Standard in the UK and Republic of Ireland IFRS 1021 and in other respeds ¢¢)rnply wlh regulation 8 of the Accounts Regulations have not been m81.. or to which, in my Opinion. allenlion should be drawn in order to enable proper understanding of the financial statements lo be reached. This report 15 made Solely lo the charity's Trustees, as a body, In accordance with regulation 11 01 the Charilias Accounts (Scollandl Regulations 2006. My work has been undertaken so th81 I might slate lo the charills Trustees those mallers l am required to slate lo Ih8m in an Independent examiner's report and for no other purpose. To the fullest exlent permitted by law. I do not accept or assume responsibility lo anyone other than the charity and the charity's Trustees as a body, for my work or for this rgport. Signed.. Dated.. ICAEW Page 6
THE ASSOCIATION FOR THE RELIEF OF INFIRMITY IN THE WEST OF SCOTLAND STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 Unr&slricled funds 2024 Endowment funds 2024 Totsl funds 2024 Total funds 2023 Note Income and gndowmgnts from: Don81ions and legacies Inveslmenl8 33,500 150,324 33,500 182,763 4,200 184,810 32,439 Total Income and ondowments 183.824 32,439 216,263 189,010 Expenditure on.. Raising funds Charitable activllies 17,3691 5,026,654 33,426 852,330 26,057 S.878,984 32,222 239,883 Total expendlturo 5,019,285 885,756 5,905,041 272,105 Not exp8ndltur& Transfers between funds 14,835,461) 11,304 (853,3171 15,688,778) 111,3041 183,0951 13 Net movement In funds before othor recognised gainsl{lossesl 14,824,157) 18e4,6211 15,688,778) 183,095) Other recognised gain$lllossesl'. Gains on revaluation of fixed assets 28,891 5,098 33,989 143,859 Net movement In funds 14,795,266) 1859,523} 15,654,789) 60,784 Reconclllatlon of funds., Total funds brought fonNar Nel movement in funds 4,882,878 {4,795,2661 859,523 5,742,401 1859,5231 15,654,789) 5,681,637 6Q.764 Total fund8 carried foNard 87,612 87,612 5,742,401 Thè Slalemenl of financial activities includes all gains and losses reeognisad in the y&ar. The notes on pages 9 to 18 form part of thèse financial slalements. Page 7
THE ASSOCIATION FOR THE RELIEF OF INFIRMITY IN THE WEST OF SCOTLAND BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Flx8d assats Investments 10 5,635,087 5,635,087 Current a889ts Debtors Cash al bank and In hand 11 33,635 61,495 48,908 76,816 95,130 125,724 Credilor8'. amount8 falling due within ona 12 {7,5181 118,4101 Net current asse18 87,612 107,314 Total a5sets1055 current Ilabllltl•s 87,612 5,742,401 Total net assets 87,612 5,742,401 Charlty funds Endowment funds Unrestricted funds 13 13 859.523 4,882.878 87.612 Total funds 87,612 5,742,401 The financial slalemenls were approved and authorised for issue by the frusle8s and signed on their behalf by.. Dale.. 1¥4> 14p', The notes on pages 910 18 form part of these financial slalaments. Page 8
THE ASSOCIATION FOR THE RELIEF OF INFIRMITY IN THE WEST OF SCOTLAND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 General Infomiation The Fund 18 an unincorporated charity registered in Scotland. The registered charity nurnber is SC014424, The principal address is clo Wright, Johnston & Mgckenzie LLP, 319 St Vincent Street, Glasgow, G2 5RZ. Accountlng pollclas 2.1 8asi5 of preparation of financlal statements Th8 financial statements have been prepared in accordance wfth the Charities SORP IFRS 1021 Accounting and Reporting by Charities.. Slalemenl of Rewmmended Practice applicable lo charities preparing their accounts in accordance with th& Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 JanLJ3ry 201SI, the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021. The Association for the Relief of Infirmity in the We81 of Scotland meets the definition of a public benefit enlily under FRS 102. Assets and liabilities are initially recognised al historic81 c081 or transaction value unless otheiSe staled in the relevant accounting policy, 2.2 Going concern The Trustees have agr88d lo cease the operations of The Association for the Relief of the Infimiily In th& wesl of Scotland. upon donation of the investment portfolio in December 2024. The Trustees have prepared the financial slalmeenls on the basls that the charity is no longer a going concern. No material adjustments arise as a result of ceasing lo apply the going eoncem basis. 2.3 Incornè All income is recognised once the charity has entillemenl to the income. il is probable that the income will be received and the amount of income receivable can be measured reliably. Income lax recoverable in relation lo investment income is recognised al the lime the investment income is receivable. 2.4 Exp8ndltur8 Expenditure is recognised once there is a legal or construdlve obligation te transfer èconomic benefit lo a third party, il is probable Ihal a transfer of economic benefits will be required in settlement and the amount of the obligation can bè measured reliably. Expènditure is classified by aclivily. The costs of each activity are made up of the lolal of direct costs and shared eosls, including support costs involved in undertaking each aclivily. Direct costs 8llribulable lo a single a¢livily are zllocaled directly lo that aelivily. Shared costs which contribute lo more than one activity and support costs which are not allributable ID a single activity are apportioned between those activities on a basis consislenl with the use of resources. Central staff costs ar¢ allocated on the basis of time spent. Expenditure on raising funds includes all expenditure incurred by the charity lo raise funds for ils charitable purposes and includ85 costs of all fundraising activities events and non-charilable trading. Expenditure on charitable activities is incurred on directly undertaklng the activllies which further the charills objecliv&s, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. Page 9
THE ASSOCIATION FOR THE RELIEF OF INFIRMITY IN THE WEST OF SCOTLAND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng pollcles Icontinuedl 2.5 Taxatlon The charity is exempl from lax on Ils charitable aclivilie8. 2.6 Investmants Fixed asset investments are a form of financial instrument and are initially recognised al their transaction cost and subsequently measured al fair value al the Balance sheet d8te, unless the value cannot be measured reliably in which case il is measured al cost less impairment. Investment gains ond losses, whether realised or unrealised, are combin8d and presented as 'GainsllLossesl on inv8slmenls' in the Slalemenl of financial aGlivili8s lincorporating income and expenditure account). 2.7 D8btors Trade and other doblors are recognised al the 8elllem8nl amount after any trade discount offered. Prepayments are valued al the amount prepaid nel of any tradé discounts due. 2.8 Cash at bank and In hand Cash al bank and in hand includes cash and short-term highly liquid inve81menls with a short malurily of three months or less from the dale of acquisition or opening of the deposit or similar account. 2.9 Llabllitles and provlslons Liabilities are recognised when there Ss an obligation at th8 Balance sheet dalè as a result of 8 past evgnl. il is probabl8 that a transfer of economic benefit will be required in setllernenl, and the amount of the selllament can b8 eslimaled r81iably. Liabilities aré récognised al the amount that the charity anlicipales il will pay Its sellle the debt or the amount il has received as advanced payments for the goods or serlices il must provide. Provisions are measured al the best estimate of the ?mounls required lo sellle the obligation, Where the effect of the lime value of money is material, the provision is based on the present value of those amounts, discounted al the pre-tax discount rale that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Slalemenl of financi81 activities lincorporaling income and expenditure account) as a finance ¢osl. 2.10 Financlal Instrument$ The charity only has financlal as8e18 an(J financial liabilities of a klnd that qualify as basic financial inslrLJments. Basic financial instruments are initially recognised al transaction value and subsequently measured al their settlement value with the exception of bank loans whiGh are subsequently measur&d al amortised cost using the effective interest method. Page 10
THE ASSOCIATION FOR THE RELIEF OF INFIRMITY IN THE WEST OF SCOTLAND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng policle8 {contlnuedl 2.11 Fund accountlng General funds ar6 unreslricled funds which are available for use al the discretion of the Trustees in furth8rance of the general objectives of the charity and which have not been dèsignated for other purp08es. The Endowment Fund Todd Bequest Fund represents a capil21 bequest, the income from which is transferred to the General Funds on an annual basis lo support the object of the charity. Investment income. gains and ltssses are allocated to the appropriate fund. Income from donatlons and16gacl8s Unreslricled funds 2024 Total funds 2024 Total funds 2023 Donations and Legacies 33,500 33,500 4,200 Donations in the year are as follows.. Templeton Goodwill Trust £3,50012023, £4,200) Lègacies from Donald Ewan MacPhee £5,000 and George Thomson £25,00012023.' £nill Investment Income Unrestricted Endowment fund$ funds 2024 2024 Tol81 funds 2024 Total funds 2023 Bank interest Investment inGome 701 149,623 701 S4S 32,439 182,062 183,861 Total 2024 150,324 32,439 182,763 184.810 Page 11
THE ASSOCIATION FOR THE RELIEF OF INFIRMITY IN THE WEST OF SCOTLAND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Investment management costs Unreslricled Endowment funds funds 2024 2024 Total funds 2024 Total funds 2023 Inveslm8nt management fee8 17,3691 33,426 26,057 32,222 The investment manager fees have been apportioned 75% to general capital 25% to general incom8 fund. Analysis of oxpanditure by activities Grant funding of activities 2024 Support costs 2024 Total funds 2024 Total fund8 2023 Support lo beneficiaries 5,839,S59 39,425 5,878,984 239,883 Analysis of direct costs Grant funding of Activities 2024 Total funds 2024 Totsl funds 2023 Regular Grants Special Grants Donation of Investment Holdings 8nd Cash 157,357 157,357 189,770 7,539 5,682,202 5,682,202 Total 2024 5,839,559 5,839,559 197,309 Regular grants - 189 are on th8 Roll al 31 D@cember 2024131 Decèmber 2023., 206 individuals on the Roll). Grants are paid six monthly al a flat rale of £420 {2023'.£4201. Payments are made in June and Decembar. The donation of the investment holdings including the cash balanees held in both capital and income accounts within Ralhbonès was made lo The Merchants House of Glasgow during the year. For further details see charitable activities within the Tru81ees report, Page 12
THE ASSOCIATION FOR THE RELIEF OF INFIRMITY IN THE WEST OF SCOTLAND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Analysls of expendlture by actlvities {contlnuedl Analysls of support costs Support lo beneficiaries 2024 Total funds 2024 Total funds 2023 Secretarial fee Advert15ing Postage and slalionery Govemance costs 33,601 325 1,131 4,368 33,601 325 1.131 4,368 33,600 245 329 8,400 39.425 39,425 42,574 Governance costs 2024 2023 Independent examiners, remunerolion Auditors remuneration 4,368 8,400 4.368 8,400 Pag813
THE ASSOCIATION FOR THE RELIEF OF INFIRMITY IN THE WEST OF SCOTLAND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Trustees, remuneration and expenses During the year, no Trustees received any remunerotion or other benefils12023- £NILI. During the year ended 31 December 2024, no Trustee expenses have been incurrad12023- £NILI. Comparatlves for thè Statement of Flnanclal Actlvltl8s Unreslricled Endowment funds funds 2023 2023 Total funds 2023 Incom8 from.. Donations and18gacies Inv8slmanl Income Total Income 4,200 158323 4,200 189 010 Expenditure on: Roising Funds Charitable Activities Total Expgnditur9 27.407 4.815 32,222 222 343 Net Incomg1{exp&ndlturo1 Transfers betsveen funds 1104,7671 21,672 183,0951 Net movement in funds before other recognised gain8lllos$esl other recognlsed galnslllos$o81: Gainsl{lossesl on revaluation of fixed ass61 179,4841 13.6111 183.0951 13 Nel movement in funds Raconclllatlon of Funds Total funds brought fOard Nèt movemènt In funds 4.839,227 842,410 5,681,637 Total funds carrled forward 82 Page 14
THE ASSOCIATION FOR THE RELIEF OF INFIRMITY IN THE WEST OF SCOTLAND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 10. Flxed asset Investments Listed investments Al 1 January 2024 Additions Disposals Revaluations Transfers to the Merchants House of Gla8gow 5,635,087 569,603 1659.4291 33,989 {5,579,2501 Al 31 December 2024 Nat book valuè At 31 December 2024 Al 31 December 2023 5,635,087 All inve8lmen18 are listed on the Stock Exchange and all investments are held for charitable purpo8e8. Quoted investments are rev81ued each year using th8 mid price at tho balance $he8t dale. 11. Dabtors 2024 2023 Dug Within one year Amounts due from investment managers - capital Amounts due from investment managers - revenu8 Prepayments and aocru@d income 45,454 3,454 420 33,215 33,635 48,908 12. Creditors.. Arnounts falling due within one year 2024 2023 Other creditors Including grants payable Accruals 3,150 4.368 10,010 8,400 7,518 18,410 Page 15
THE ASSOCIATION FOR THE RELIEF OF INFIRMITY IN THE WEST OF SCOTLAND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER 2024 13. Ststement of funds stst8m8nt of funds- current year Balance al 31 December 2024 Balancé al 1 January 2024 Transfer8 inloul Gainsl (Losses) Income Expandllure Unrgslri¢ted funds Gen&ral Capi181 Fun General incomg fund 4,836,954 14,829,872) 17,0821 45,924 183,824 1189,4131 18,388 28,891 87.612 4,882,878 183,824 15,019,285) 11,304 28,891 87,612 Endowment funds Todd Bequest Fund 859,523 32,439 1885,7561 111,3041 5,098 Totsl offunds 5,742,401 216,283 15,905,041) 33,989 87,812 Page le
THE ASSOCIATION FOR THE RELIEF OF INFIRMITY IN THE WEST OF SCOTLAND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 13. Stat8m&nt of funds Icontlnuedl Statement of funds- prlor year Balance 8t 31 December 2023 Balanc6 81 1 January 2023 Transfers inloul Gainsl (Losses) Income Expenditure Unrestricted funds Genaral Capital Fun Ganeral income fund 4,734.374 {20,5551 123,135 4,836,954 104,853 162,523 1246,735) 25,283 45,924 4.839,227 162.523 1267.2901 25.283 123.135 4,882.878 Endowment funds Todd Bequest Fund 842,410 28,487 14,8151 125,2831 20,724 859,523 Total of funds 5,681,637 189,010 1272,1051 143,859 5,742,401 14. Analysls of net assets botwaon funds AnalysSs of net assets betwgen funds- current porlod Unrestricted funds 2024 Totsl funds 2024 Current assets Creditors due within one year 95,130 17,5181 95,130 17,5181 Total 87,612 87,612 Pag&17
THE ASSOCIATION FOR THE RELIEF OF INFIRMITY IN THE WEST OF SCOTLAND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 14. Analysls of net assets between funds Icontinuedl Analysls of net assets betwe&n funds- prlor parlod Unreslrlcled Endowment funds funds 2023 2023 Total funds 2023 Fixed asset investments Current assets Creditors duo within one year 4,775,564 125,724 118,4101 859,523 5,635,087 125,724 118,4101 Total 4,882,878 859,523 5,742,401 15. Related party transactlons The Association for the Fielief of Infirmity in th8 W8s1 of Scotland has not entered into any related party transaction during the y8ar, nor are there any outstanding balances owing between related parties and the Association for the Relief of Infirmity in the West of Scotland at 31 Dec8mber 2024, other than those noted below. During the year, the investment portfolio including all capital and incoma account balances were transferred over lo Msrchanls Hous& of Glasgow. Two of the Iruslees within Assoeialion for the Relief of Infirmity in the Wèsl of Scotland arè also Iruslees on the board of Merchants House. The transfer of investments was done al market value with no gains or losses realised. Al the year end within debtors is £8,635 relating lo dividends received after the dale of Ir8n8fer which once received will also be transferred lo Merehanls House. Page 18